Some financial institutions provide systems and methods to help families administer to their financial assets. In such systems and methods, one or two family members are authorized to control the funds involved. Such systems and methods are costly and complicated to run. Consequently, the family is typically a high net worth family to qualify for this service.
Thus, middle class families do not have access to such a service to administer their finances. It would therefore be desirable to provide systems and methods wherein an average family or self-defined group is able to link together their financial accounts to simplify administering to their financial affairs.
Additionally, some financial institutions provide systems and methods for offering products and services to customers with significant assets. This qualification limits the ability of the financial institution to provide these products and services to individual customers who do not possess the required funds.
It would be desirable to provide systems and methods wherein a financial institution can offer products and services to a customer who is ineligible to receive them based on his personal assets.